Refuels N.V. — Earnings Release 2024

Nov 2, 2023

Biomethane Station Data October 2023

Biomethane Station Data October 2023

2 November 2023 - Refuels N.V., a leading European supplier of renewable

biomethane (Bio-CNG) for the decarbonisation of heavy goods vehicles, today

published Bio-CNG station data for October 2023.

* A total volume of 4,094 tonnes of Bio-CNG was dispensed from 12 public

access refuelling stations in operation during October 2023. This is a 59.4%

increase from 2,568 tonnes dispensed in October 2022 (8 stations)

* The average daily dispensed volume was a record 132 tonnes, compared to

129.5 tonnes dispensed per day in September

* For the three-month period ending 31 October 2023, the total dispensed

volume was 11,819 tonnes, an increase of 68% compared to the three-month

period ending 31 October 2022

* For the three-month period, a daily average of 1,479 vehicles refuelled at

ReFuels' Bio-CNG stations, compared to 968 vehicles for the same period last

year.

* A record number of vehicle trials and indications of customers expanding

vehicle backlogs, supporting further long-term growth in Bio-CNG demand

"October was the first month where we dispensed more than 4,000 tonnes of

Bio-CNG. We deliver continued strong growth in dispensed biomethane volumes

and see a rapid expansion of the vehicle fleets using our stations. This

reflects the successful execution of our strategy with the roll-out of new

stations across major UK trucking routes, supporting existing and potential

new customers to improve fleet economics and realise commitments to

decarbonise their logistics operations," said Philip Fjeld, CEO of ReFuels.

The company continues to execute a record number of trials with a six-month

backlog for some trial vehicles. DSV, the world's third largest transport and

logistics company, recently launched a trial in Immingham using Bio-CNG from

ReFuels.

"At DSV, we see an increased demand for greener logistics, with switching from

diesel to Bio-CNG there is evidence of over 90% emissions saving," said

Michael Hague, General Manager, Haulage Division, DSV Road, Immingham.

Through the CNG Fuels brand, ReFuels operates 12 public access Bio-CNG

stations on major trucking routes in the UK. The group has two more stations

under construction in Bangor in North Wales and Aylesford in Southeast England

and expects two further stations to commence construction during the financial

reporting year ending 31 March 2024.

ReFuels provides monthly operational updates, which are normally released

within ten working days after the end of a month.

To receive ReFuels' stock exchange and press releases via email, subscribe at

refuels.com/investors

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 19 no. 3. The information was submitted for publication

at 2023-11-02 08:00 CET.